Keep a close eye on alcohol consumption and inebriated employees. If necessary, arrange for transportation. The price for cab fares is far better than the cost of a negligence lawsuit due to a drunk-driving employee.

Assign designated "party watchers."

Make sure they’re sticklers (like those accounting types) who will be strict on excessive drinking or other inappropriate behavior.

Don’t ignore feisty holiday spirit.

Overly romantic displays of affections can be a serious matter.

Watch the reindeer games.

Discourage activities that invite touching or personal revelations. This includes the all-time party favorite "The Rumba Line."